Matt Fry in Law360: Uber's Disappointing Debut Unlikely to Dampen IPO Market

05/14/2019

Haynes and Boone, LLP Partner Matt Fry talked with Law360 about Uber’s weak close Friday following its $8.1 billion initial public offering and how it could sober pricing expectations among some companies in the pipeline.

Here is an excerpt:

Uber’s tepid entrance into public markets runs counter to the kind of buzz-generating debut sought by companies, especially considering the heavy hype that preceded Uber’s bow — the largest IPO since 2014. But IPO legal advisers and experts don’t see Uber’s disappointing performance out of the gate as ominous to the broader IPO climate.

Bad first impressions can be overcome, as evidenced by Facebook’s choppy debut in 2012, which was worsened by technical glitches on the Nasdaq stock exchange that confused traders.

“Time will tell over the coming days and weeks how well Uber will perform,” said Haynes and Boone LLP partner Matthew Fry. “If some of the market forces at play, such as U.S.-China trade tensions, resolve, we may see Uber return to its IPO price.”

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